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#1008023 - 07/30/08 03:29 PM Broker Fees
Boomer Offline
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Boomer
Joined: Apr 2004
Posts: 135
Southwest Florida
We have been asked by a broker to do a residential mortgage where
we would not pat any broker fees but they would charge a fee directly to the customer.Is this allowed under Respa?

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Lending Compliance
#1008049 - 07/30/08 03:45 PM Re: Broker Fees Boomer
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
Sure - but, the broker fee is still a finance charge for Reg. Z disclosure calculations. Of course the fee does have to be earned and the bank cannot charge duplicate fees for services performed by the broker.
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